9% of Europeans Hold Crypto and 25% Plan to in the Future, Says ING
- The survey also revealed that one-third of Europeans said that they would never own cryptocurrency.
Despite the fact that Bitcoin and other Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term have been shedding their value for months, an ING survey of 15,000 people across Europe, Australia, and the US revealed that 9 percent of participants currently owned cryptocurrency, and 25 percent of people expect to own cryptocurrency in the future.
The survey also revealed that 15 percent of Europeans surveyed even said that they would be open to receiving their salary in cryptocurrency; roughly one-third of them said that they believed that cryptocurrency represented the future of both investing and online spending.
Our new research reveals attitudes on the rise of digital currencies such as #bitcoin and what they might mean for our money https://t.co/qijaCeiKKX
— ING (@ING_news) June 26, 2018
However, it wasn’t all good news for crypto fans: one-third of survey participants said that they had never heard of cryptocurrency. On top of that, 46 percent of Europeans said that they considered cryptocurrency to be a riskier investment than stock shares; 30 percent of Europeans surveyed said that they would never own cryptocurrency at all.
There May Be ‘More Appetite’ for Cryptocurrencies Than We Thought
ING concluded that the results of the study indicate a general change in attitude towards cryptocurrency. After all, most people didn’t even know what cryptocurrency was at the beginning of 2017. Jessica Exton, a behavioral scientist at ING, wrote in her report that the study suggested that "cryptocurrency remains an abstract investment for many, but there may be more appetite for digital currencies than some might suggest."
This ‘appetite’ could be an indicator of some hope for long-term cryptocurrency valuation on the European continent. Indeed, "based on our survey, ownership of cryptocurrencies could more than double in the future – although we do not know when,” said Exton. “...If cryptocurrency stabilises there may be increased interest.”
Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term May Be Responsible for Increased Awareness Around Cryptocurrency
The price of Bitcoin is famously (or infamously) volatile and unpredictable, which Exton argues could be one of the reasons for the increased awareness around cryptocurrency. “The volatility of cryptocurrency carries with it both positives and negatives, on the plus side it can increase awareness but may also mean people view digital money as a relatively risky asset,” she said.
The survey seemed to indicate that Bitcoin and other cryptocurrencies may have particularly high appeal in countries who lack dependable and efficient financial systems. “Larger shares in lower per-capita income countries suggest they might consider investing or paying in cryptocurrency,” the report said.
Teunis Brosens, a global market economist at ING, pointed out that in contrast, “we find that the Dutch, with a very efficient and cheap domestic payment system, are most skeptical about the future of digital currencies."
Despite the fact that Bitcoin and other Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term have been shedding their value for months, an ING survey of 15,000 people across Europe, Australia, and the US revealed that 9 percent of participants currently owned cryptocurrency, and 25 percent of people expect to own cryptocurrency in the future.
The survey also revealed that 15 percent of Europeans surveyed even said that they would be open to receiving their salary in cryptocurrency; roughly one-third of them said that they believed that cryptocurrency represented the future of both investing and online spending.
Our new research reveals attitudes on the rise of digital currencies such as #bitcoin and what they might mean for our money https://t.co/qijaCeiKKX
— ING (@ING_news) June 26, 2018
However, it wasn’t all good news for crypto fans: one-third of survey participants said that they had never heard of cryptocurrency. On top of that, 46 percent of Europeans said that they considered cryptocurrency to be a riskier investment than stock shares; 30 percent of Europeans surveyed said that they would never own cryptocurrency at all.
There May Be ‘More Appetite’ for Cryptocurrencies Than We Thought
ING concluded that the results of the study indicate a general change in attitude towards cryptocurrency. After all, most people didn’t even know what cryptocurrency was at the beginning of 2017. Jessica Exton, a behavioral scientist at ING, wrote in her report that the study suggested that "cryptocurrency remains an abstract investment for many, but there may be more appetite for digital currencies than some might suggest."
This ‘appetite’ could be an indicator of some hope for long-term cryptocurrency valuation on the European continent. Indeed, "based on our survey, ownership of cryptocurrencies could more than double in the future – although we do not know when,” said Exton. “...If cryptocurrency stabilises there may be increased interest.”
Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term May Be Responsible for Increased Awareness Around Cryptocurrency
The price of Bitcoin is famously (or infamously) volatile and unpredictable, which Exton argues could be one of the reasons for the increased awareness around cryptocurrency. “The volatility of cryptocurrency carries with it both positives and negatives, on the plus side it can increase awareness but may also mean people view digital money as a relatively risky asset,” she said.
The survey seemed to indicate that Bitcoin and other cryptocurrencies may have particularly high appeal in countries who lack dependable and efficient financial systems. “Larger shares in lower per-capita income countries suggest they might consider investing or paying in cryptocurrency,” the report said.
Teunis Brosens, a global market economist at ING, pointed out that in contrast, “we find that the Dutch, with a very efficient and cheap domestic payment system, are most skeptical about the future of digital currencies."